Please write a short essay for each equation , please using citations, critical thinking and focus on theories. thanks a lot. :)
Explain the rational choice theory of consumer decision-making. Then, present at least two critiques of the theory. Finally, introduce one alternative theory of how we make decisions.
Please describe Freud's theory of the self. Then, explain how early marketers used Freud's theory to influence consumer behaviour.
How have consumer researchers used sociopolitical models to enhance our understanding of consumption? Please refer to at least three theories from the readings and lectures in answering.
Please discuss the phenomenon of gendered marketing. In doing so, explain both the managerial and consumer welfare perspectives on gendered marketing. In answering, please be sure to include a clear definition of gender.
1. Rational choice theory of consumer decision making has underlying fact that individuals have preferences and choose according to those. People do their best in prevailing circumstances to make rational decision. It is used by social scientists to understand human behavior. The theory establishes individual behavior before moving on to examine how individual choices interact to product outcomes.
Criticisms of rational choice approach have practical, empirical and theoretical basis. The practical criticism targets rational choice theorists for not asking right kind of questions. Empirical criticism targets developer of theory for not testing it empirically.
The theory proposes that consumers make decisions based on expected outcomes of their decisions. In this theory consumers have ability to estimate probabilistic outcomes of uncertain decisions and select the outcome which maximized their well being (Richarme, 2005).
2. Freuds Theory of Self
Freud referred to human mind as iceberg. The mind is divided into conscious mind, which is what we are aware of and unconscious mind which is outside our awareness, like hopes, desires, ...
Questions pertaining to rational theory, Freud model and consumption models.